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Via the ABC: With Dastayari gone the air is clear for a look elsewhere and it ain’t pretty, via the ABC: Federal Liberals insist it is not as politically damaging for them to have received donations from Chinese businessman Huang Xiangmo as it is for Labor’s Sam Dastyari. Senator Dastyari resigned on Tuesday because of continued

The post Cormann, Pyne, Bishop, Sukkar, Porter members of Huang Dynasty appeared first on MacroBusiness.

Thar she blows: At least with a tulip you get to plant the bulb again next year and you a get pretty flower. Bitcoin is the first ever global pyramid scheme and bubble. It is cloaked in all kinds of balderdash to hide the simple fact that it is a completely worthless private currency that belongs

The post Bitcoin surpasses tulip bubble appeared first on MacroBusiness.

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Of course this is just speculation but I fear it will happen. Bitcoin is the first ever global pyramid scheme and bubble. It is cloaked in all kinds of balderdash to hide the simple fact that it is a completely worthless private currency that belongs in the nineteenth century. But that’s going to take some time

The post Bitcoin is going to blow up the global economy appeared first on MacroBusiness.

From Morgan Stanley today: We see the RBA firmly on hold in 2018 as the headwinds from a consumer crunch and evolution of a housing slowdown prevent Australia from joining the global tightening bias to monetary policy. The lack of carry for the Australian dollar makes rates differentials and rate expectations much more important in driving near term

The post Morgan Stanley top trade for 2018: Sell Australian dollar appeared first on MacroBusiness.

By Leith van Onselen Yesterday’s September quarter property data from the ABS includes a series showing the total number of dwellings in each state. Although this series only dates back to September 2011, it is arguably the best data to use when assessing actual dwelling supply, since unlike the ABS’ various quarterly housing construction data

The post More evidence record dwelling construction hasn’t outrun population ponzi appeared first on MacroBusiness.

By Leith van Onselen SQM Research has released its rental vacancy series for November, which revealed a 0.1% rise in the national vacancy rate over the month but a 0.3% decline over the year: Over the year, decreases in vacancies were recorded in Melbourne (-0.2%), Brisbane (-0.2%), Perth (-0.7%), Adelaide (-0.4%), Hobart (-0.3%), Darwin (-0.7%),

The post Weak rental market confirms Sydney’s housing downturn appeared first on MacroBusiness.

He’s dead on arrival: Retailer euphoria over Amazon’s less than spectacular Australian launch is fading fast as trading conditions deteriorate in the lead-up to Christmas. As foot traffic in shopping centres declines and consumers cut back on discretionary purchases, retailers have been forced to pull forward discounting to compete against Amazon and lure cash-strapped shoppers. According to a Citigroup report, sales conditions

By Leith van Onselen I have argued repeatedly that one of the key reasons why Australia’s high population growth (immigration) is lowering the living standards of existing residents is because of the strain that it places on infrastructure, which inevitably leads to more congestion on roads, public transport, as well as more expensive housing. Basic

The post Ponzi Pallas’ West Gate Tunnel to cost $1 billion more appeared first on MacroBusiness.

Via the ACCC today: This is the second interim report of the Australian Competition and Consumer Commission’s (ACCC) inquiry (‘the Inquiry’) into gas supply arrangements in Australia. The ACCC is focussing on the operation of the East Coast Gas Market, where there are continuing immediate and longer-term concerns. In the September 2017 report, the ACCC

The post ACCC: Gas cartel still gougin’ (and it’ll get worse) appeared first on MacroBusiness.